Your comments - be careful not to exceed 6 ach transfers on your savings account per monthLatest responses to “Be Careful Not To Exceed 6 ACH Transfers On Your Savings Account Per Month”Copyright 2016, MoneyBlueBook.comBarbara says: 59578583232016-08-16T15:14:16-07:00BarbaraYou can around all this by setting up a money market account, close out traditional savings and checking. Higher risk, but very flexible.Barbara says: 583022222016-08-16T15:11:07-07:00BarbaraScott you'll have to get the Patriot Act repealed.Barbara says: 59578582232016-08-16T15:07:55-07:00BarbaraFolks we're limited to 6 transfers per month, that includes preauthorized account withdrawals from a third party. ( I have one) due to the Patriot Act enacted after the 9/11 Terrorist attacks on the United States. It was determined that terrorists had a long history of moving vast amounts of cash around with impunity. More than 6transfersa month is a red flag to all banks who are complying with fed law. This pertains to retail (individual) bank accounts.Lorena says: 581786222016-08-06T14:34:43-07:00Lorenathis happen to me with US BANk .They charged me over $300. they never worn me of the 35 dollar fee .So they basically are charged me to transfer my own money in my saving to my checking. Makes me so upset. No notice or no nothing, I hate banks.Michelle says: 53423578232015-12-10T19:34:27-08:00MichelleThey have no right to do this. It's my money my account what do they care what I do w it. If they r so concerned they should cut their salary they make more than enough and give it to the American peopleScott says: 37525582232015-03-30T22:51:15-07:00ScottWhat happens if you have 6 automatic transactions on say the 2nd day of every month. All is well until Feb. rolls around. 6 transactions in a 30 day period.. How many days are in Feb? 28 and guess how many transactions you would have in a 30 day period? 12 total! They need to change it from 30 days to 28 because of Feb.Jamie says: 22973573232014-08-23T07:27:49-07:00JamieI don't feel bad for customers who threaten to close their accounts or get penalized. That's absolute nonsense that you weren't "told about it," because banks are required to provide this in their Truth in Savings disclosure. It's not the banks' fault you're all illiterate.Dump Savings to Checking says: 15782573232014-03-31T19:59:48-07:00Dump Savings to CheckingThis is ridiculous.
I just maxed out on my 6 transaction limit per month for moving funds from my savings to my checking account.
I generally keep most of my funds in savings and then move them into checking when I need them as a safe and manageable method of tracking and isolating the purpose of my funds.
Now, I can't pay my bills online because of this stupid regulation.
I'm going to have to pull out half or all of my funds out of Savings...this was one stupid regulation.Megan R. says: 197455222013-07-18T06:06:11-07:00Megan R.I can't even express how FURIOUS I am over this. I have a credit card, checking account and savings account through the SAME bank which I WAS loyal to. I pay all of my bills on time and I micromanage all of these accounts. Before opening these accounts I read every line of every contract that I signed and NOWHERE did it say that I can be charged $5 for this "regulation D" Bullshit. This morning when I went to view my online statement I was pleasantly surprised to find out that the credit card, which I payed off 4 times already was not payed yet. So I looked through my transfers and not only noticed that I payed $40 in fees AND lost ALL of the money that DID NOT transfer to my credit card. Now my credit card payment is overdue eventhough I payed it over 2 weeks ago and since I lost all of that money I don't have enough to pay it off now. I am going to my bank and raising Holy He// when I get there because I want my $1000 AND credit back.TL says: 2611573232013-02-19T13:48:52-08:00TLL.Meade: It IS over-regulation. It may not have been the Democrats (although it may have been), but it is most certainly over-regulation. The fact that the banks may benefit from it, doesn't mean it isn't regulation. Those two are not mutually exclusive. It isn't Capitalism's fault either. The government has too much power and that power is for sale. This is Crony Capitalism which couldn't exist in a free market with limited government that has no power to sell to the corporations.